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July 25, 2008 12:06:09 PM CDT

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Newcastle Sells for $15.2B

Posted Jan 25, 08 12:00 PM CST in World,  Arts & Living,  Business 

(Newser) – After months of playing hard-to-get, UK brewer Scottish & Newcastle has agreed to a $15.2 billion takeover bid from Carlsberg and Heineken. The offer tops a bid rejected in March by 11.1%, Forbes reports. Experts expected S&N to squeeze out a better deal, especially after it filed a lawsuit to pressure Carlsberg. S&N’s stock rose 2.1% on the announcement; Carlsberg's dropped 4.1%.

Carlsberg and Heineken will divide the spoils regionally, with Heineken taking over operations in the US, UK, and most of Europe, while Carlsberg controls much of Asia. In Britain, brew lovers are upset. “The inevitable result of consolidation is brewery closures, brand losses and less choice for Britain’s consumers,” argued the Campaign for Real Ale advocacy group.

Sources Forbes, MarketWatch

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In this file photo dated of May 31, 2005 bottles of Newcastle Brown Ale move along the production line at the Federation Brewery, Gateshead, England. The board of Scottish & Newcastle PLC accepted a...   (Associated Press)
Heineken beer bottles are seen at a joint press conference by Heineken and Carlsberg to announce their joint bid to buy UK brewer Scottish & Newcastle (S&N), London, Friday, Jan. 25, 2008. (AP Photo/Sang...   (Associated Press)
Carlsberg beer cans are seen at a joint press conference by Heineken and Carlsberg to announce their joint bid to buy UK brewer Scottish & Newcastle (S&N), London, Friday, Jan. 25, 2008. (AP Photo/Sang...   (Associated Press)
British brewer Scottish & Newcastle said 25 January 2008 it had accepted a 7.8 billion pound (10.5 billion euro, 15.5 billion dollar) takeover bid by Carlsberg of Denmark and Heineken of the Netherlands....   (Getty Images)
British brewer Scottish & Newcastle said 25 January 2008 it had accepted a 7.8 billion pound (10.5 billion euro, 15.5 billion dollar) takeover bid by Carlsberg of Denmark and Heineken of the Netherlands....   (Getty Images)
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mergers and acquisitions  • beer  • Carlsberg  • Heineken  • Newcastle


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